NEW! Xcalibur Multiphysics completes the acquisition of MPX Geophysics ➝

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Xcalibur Acquires MPX

Madrid, 11/10/2023 – Xcalibur Multiphysics, global leader in integrated project and solutions for airborne geophysics and applied technology, is pleased to announce the successful acquisition of MPX Geophysics, a Canadian-based company with a presence in Latin America.

This acquisition represents a significant step in Xcalibur Multiphysics’ growth strategy in America and reflects its commitment to growth by offering state-of-the-art geophysical solutions in the region. The purchase includes the comprehensive acquisition of 100% of the shares and geophysical services of MPX Geophysics.

We are proud to welcome MPX Geophysics to the Xcalibur Multiphysics family,” said Xcalibur Multiphysics CEO Andres Blanco, “This acquisition is a key milestone in our journey to consolidate Xcalibur Multiphysics’s leadership internationally and particularly in America”.

Daniel McKinnon, president and owner of MPX, said: “from our perspective, this acquisition transaction affords the former MPX team a tremendous opportunity to be part of a progressive organization providing access to a wider variety of geophysical surveying technologies that will enhance our capacity to provide effective exploration solutions to clients. Through this acquisition, Xcalibur Multiphysics will strengthen its team in Latin America with the integration of the MPX Geophysics management team into Xcalibur Multiphysics. Marco Nieto, formerly Vice-president at MPX, will join as Business Development Manager where he will utilize his extensive experience and knowledge obtained over years of working in South America. The expectation is that there will be a smooth and seamless transition into Xcalibur Multiphysics for the remaining MPX team members, without any overlap of key positions, including Business Development, Senior Geophysicists, Project Managers and Engineers. We look forward with keen anticipation to contributing meaningfully to Xcalibur Multiphysics’s thrust to become a World leader in Geophysics”.

As for Davin Allen, CEO of Xcalibur Multiphysics in Canada, he said: we see this acquisition as a pivotal step in expanding our presence in Central and South America. Daniel has done an exceptional job in building a fantastic team with a high degree of experience and an especially in-depth understanding of the intricacies of geophysical survey operations in the region.

About Xcalibur Multiphysics

Xcalibur Multiphysics is a global leader in airborne and mapping geophysics industry, providing comprehensive and sustainable solutions for mapping and assessing natural capital, renewable and non-renewable resources with +100 years of accumulated experience.

Our mission is to apply technology and smart data to discover natural capital responsibly, help stakeholders create opportunities for growth and integration, and protect biodiversity. All this with the firm purpose of accelerating a just energy transition for a more sustainable economy, making us the partner of reference in natural capital mapping.

With solid experience and a track record of exponential growth, Xcalibur Multiphysics offers a wide range of advanced services and technologies for the exploration and evaluation of mineral, energy and environmental resources. Owning a fleet of over forty aircraft equipped with geophysical systems, we map countries/land/geography/the Earth to identify the properties of the sub- and above-surface and discover potential areas of natural resources, such as critical minerals, hydrogen, or geothermal. Our multidisciplinary and highly qualified team of experts employs cutting-edge technologies, including gravimetry, magnetometry or radiometry, to interpret this smart data and generate detailed reports and accurate recommendations.


www.Xcaliburmp.com

Contacto de prensa:

María Fernández
Head of Communications

Phone: + 34 66 674 5049
Email: maria.fernandez@Xcaliburmp.com

More info: https://www.xcaliburmp.com

Technical Breakthrough that Discovered a Substantial Lithium Surface Deposit at Midnight Owl was Presented at Society of Exploration Geophysicists (SEG)Event to Geology and Geophysics Peers

GURNEE, IL / ACCESSWIRE / August 30, 2023 / BrightRock Gold Corp. (OTC Pink:BRGC) is pleased to announce that its groundbreaking spodumene discovery (see 8/22/2023 News) was featured at the Aero Geophysics for the Exploration of Minerals Required for the Energy Transition Society of Exploration Geophysicists (SEG) Conference on August 22nd, 2023, by Marco Nieto.

Marco Nieto, P. Geo, obtained his geology degree at the Universidad Nacional de Colombia and studied his master’s degree in geophysics at the University of Western Ontario in London, Ontario. He also obtained an MBA at the Universidad Internacional de La Rioja (Spain). Marco has more than 15 years of experience in geophysical and geological exploration, with experience in metal ore deposit exploration. He has used potential methods for mining, oil, and underground water exploration throughout the Americas. Currently, Marco is the vice president of MPX Geophysics Ltd., a Canadian airborne geophysical company.

Featured in Marco’s presentation (Aerogeophysics for the Exploration of Minerals Required for the Energy Transition) are results from a groundbreaking hyperspectral survey carried out by SpecTIR of the BrightRock Gold Midnight Owl project near Wickenburg, Arizona. SpecTIR LLC. has made a ground-breaking discovery of lithium-bearing pegmatites with their Long Wave Infra-Red (LWIR) Aerial Fixed Wing Survey which MPX is Presenting at this Conference. This discovery marks the first successful detection of in-situ spodumene, the key lithium ore mineral. Spodumene can only be detected with a well-calibrated LWIR instrument, such as the Specim AISA OWL used in this study. As far as it is known, SpecTIR is the only company in the world to offer this unique and powerful tool for in-situ spodumene detection. Previously, SpecTIR has detected spodumene over disturbed ground, but now, with the Midnight Owl flight, undisturbed in-situ spodumene has been mapped from the air. This discovery is the first of its kind, opening a new frontier for the exploration of hard-rock lithium deposits.

Marco Nieto, P. Geo was quoted saying “SpecTIR and MPX have been working together for nearly a decade to provide leading edge Airborne Geophysics and Hyperspectral solutions to support critical mineral exploration programs in the Americas. It is very exciting to see the proven effectiveness of technologies such as Long Wave Infra-Red Hyperspectral Mineral Mapping for discovery of new Critical Mineral Deposits.”

Mark Landers, President and CEO of SpecTIR LLC. was quoted saying “The results speak for themselves, but behind the results there has been an incredible amount of work to get the Long Wave ready for prime time. Over the past 5 years, SpecTIR has assembled the world’s leading spectral scientists, spectral geologists, and domain mathematicians to work on this LWIR problem. We have now developed a robust operational methodology for airborne push-broom LWIR data processing and analytics. The Bright Rock results add another meaningful Long Wave product. And this is just one of many applications, as we can now detect and classify many of the quartz, crystal, feldspar, and silicate minerals.”

BrightRock has been working under the technical advisory of Stantec Consulting Services Inc. (Stantec) for the exploration and development of the Midnight Owl Project. Brightrock engaged SpecTIR to provide hyperspectral analyses of potential lithium bearing outcrops at the site.

Derek Loveday, P.GEO., Stantec Manager Geologic Services, commented with “We are very excited about the LWIR hyperspectral survey results. Direct detection of spodumene has provided measurable target areas for field mapping and sampling for lithium-bearing pegmatites that is advancing the objective of estimating a lithium mineral resource for the Midnight Owl project.”

Mac J. Shahsavar, P.ENG, Chairman and CEO of BRGC, expressed his appreciation for the opportunity to be featured in the SEG event as a prominent illustration of the exploration of lithium spodumene deposits. “The SEG is an internationally renowned non-profit organization that is dedicated to the objective of fostering connections within the field of applied geophysics on a global scale. The BrightRock team takes immense delight in being selected for recognition by an organization of such significant stature.”

About MPX Geophysics Ltd.

MPX Geophysics is a leading provider of airborne & ground geophysical services. MPX Geophysics Ltd. has earned an excellent reputation for providing quality geophysical survey and consulting services. Our team of experts has many years of combined experience and operates a variety of strategically positioned airborne platforms, including helicopters and fixed-wing planes. We have the flexibility to configure a geophysical system to meet client requirements, from single-sensor magnetic systems to full horizontal and vertical gradiometer systems.

About SpecTIR LLC.

SpecTIR LLC. is a privately owned small business that is preeminently qualified to design and integrate airborne hyperspectral (HS) systems, conduct HS mapping surveys, and offer a broad range of services related to remote sensing data processing and analysis. They are only company that performs combined hyperspectral data collection with the FENIX 1K- Visible-Near/Shortwave Infra-red (VSWIR) and OWL- Long Wave Infra-red (LWIR) Systems coupled with high performance Stabilization and GPS/INS systems for Image navigation. These hyperspectral instruments are state-of-the-art and SpecTIR has further enhanced their performance by designing and integrating considerable upgrades over the past twenty years to the navigation systems and data processing software. SpecTIR’s unique capabilities demonstrate the highest level of performance obtainable from commercial airborne hyperspectral service providers.

About Stantec.

Communities are fundamental. Whether around the corner or across the globe, they provide a foundation, a sense of place and of belonging. That’s why at Stantec, we always design with community in mind.

We care about the communities we serve-because they’re our communities too. This allows us to assess what’s needed and connect our expertise, to appreciate nuances and envision what’s never been considered, to bring together diverse perspectives so we can collaborate toward a shared success.

We’re designers, engineers, scientists, and project managers, innovating together at the intersection of community, creativity, and client relationships. Balancing these priorities results in projects that advance the quality of life in communities across the globe.

Stantec trades on the TSX and the NYSE under the symbol STN. Visit us at stantec.com or find us on social media.

About BrightRock Gold Corp.

BrightRock Gold Corp. is a lithium exploration company focused on developing its flagship project “Revival of the Midnight Owl Mine”. Previously known in historical records as the “Lithium King Mine,” it is located approximately 13 miles east of Wickenburg, Arizona. BrightRock Gold Corp. holds 100% ownership and interest in the “Midnight Owl Mine,” along with an adjoining 5040 acres, or 244 lode claims. A lithium pegmatite project strategically located within 170 miles of three billion-dollar gigafactories under current construction. The company is seeking to develop this portfolio of lithium-rich assets to become a major supplier of lithium-based products.

Geophysical exploration of minerals required for green energy transition featuring new first of a kind LWIR Technology developed at BrightRock Gold Corp’s Arizona site.

PDF Presentation of Geophysical exploration of minerals required for the green energy transition - SPANISH

Download Presentation PDF (Spanish)


The energy transition generates a new demand for elements that will provide raw materials for batteries and other green energy supplies. Geophysical exploration methods will be essential in the latest findings and reinterpreting previous datasets. In this case, it is necessary to understand the geological context of the different deposit types and their physical properties. Some deposits are part of the bottom part of extinct volcanoes, while others are found in the brines of high mountains. Airborne geophysics methods such as electromagnetic methods (time and frequency domain) or a combination set of magnetic and radiometric surveys could support the base for future discoveries. Relevant systems such as Hyperspectral surveys above lithium pegmatites or Electromagnetic methods for porphyry deposit exploration were mentioned.

Featured in Marco’s presentation are results from a groundbreaking hyperspectral survey carried out by SpecTIR of the BrightRock Gold Midnight Owl project near Wickenburg, Arizona. SpecTIR LLC. has made a ground-breaking discovery of lithium-bearing pegmatites with their Long Wave Infra-Red (LWIR) Aerial Fixed Wing Survey which MPX is Presenting at this Conference. This discovery marks the first successful detection of in-situ spodumene, the key lithium ore mineral.

Marco Nieto (MPX Geophysics) presented a one-hour conference with the Society of Exploration Geophysicists about how to apply different geophysical airborne techniques to support the exploration of minerals associated with the energy transition. His presentation was on August 22nd (in Spanish), and if you want to know more, you can download the presentation below.

SEG Event Link

Vancouver, British Columbia–(Newsfile Corp. – March 7, 2023) – K9 Gold Corp. (TSXV: KNC) (FSE: 5GP) (OTCQB: WDFCF) (“K9” or the “Company”) is pleased to announce that field work has now commenced on its JB Lithium project, located in the James Bay region of northern Quebec. MPX Geophysics Ltd of Newmarket, ON has been contracted to fly a fixed-wing magnetometer and VLF survey. This will provide K9 with a solid technical base to develop an expected extensive summer field program. The program is fully funded.

The property comprises 41 mining claims, totaling 2114 hectares. The property is located approximately 350 km south-southeast of Radisson, Quebec. Other projects in the area include Allkem’s James Bay lithium project, which recently received federal approval for development, Patriot Battery Metals Corvette project located 50 km to the west and Winsome Resources Lithium Adina project located approximately 5 km to the east. The JB property is underlain by a package of Archaean rocks that is similar to the geological setting of the Corvette and Adina projects.

Adjacent Properties

  • On January 18, 2023, Patriot Battery Metals announced drill results from its Corvette project, including an intersection of 156.9 meters averaging 2.12% Li2O. Patriot further reported that it has now extended the CV5 Pegmatite over a strike length of at least 2200 m.
  • At Winsome Resources’ Adina project, initial drill results include 107.6 meters averaging 1.34% Li2O and 52.1 meters averaging 0.70% Li2O in drillhole AD-22-005 (Winsome Resources release January 6, 2023).
  • Allkem Ltd (formerly Galaxy Lithium) released the results of a feasibility and maiden mineral resource estimate for its James Bay Lithium project in a company release dated December 21, 2021. The company reported an Indicated Mineral Resource of 40.3 million tonnes at an average grade of 1.40% Li2O. On January 16, 2023, the Federal Ministry of Environment and Climate Change announced approval for the development of the mining project.

About JB Lithium Project

The JB Lithium Project is located in the La Grande sub-province of the Archaean Superior Province in Quebec. The Trieste Formation, which hosts lithium mineralization on the adjacent Adina property, transects the James Bay project area. Within the property boundaries, this Meso-Archaean age formation is mainly an ensemble of mylonites and banded amphibolites derived from basalt, which have been intruded by various intermediate rocks. A significant band of tonalite, part of the Meso-Archaean age Kamusaawach Intrusion, cuts through the centre of the property. Also cutting through the claims is a band of the Neo-Archaean Richardie Suite, an intrusive biotite-magnetite-hornblende granodiorite. The northern portion of the property is underlain by the Neo-Archaean Sauvolles Pluton, which is mainly of granitic composition. There is also a prominent Paleoproterozoic-age mafic dyke (Senneterre dyke system) cutting through the north of the property with a NE-SW orientation.

No systematic exploration work has been performed on the property to date. During a regional mapping program in 2013 by Government geologists, one outcrop was collected sample from the property, reported in the Quebec Government’s online geological database, SIGÉOM, and returned a value of 65 ppm Li.

About K9 Gold Corp.

K9 Gold Corp. has assembled a highly-experienced and dynamic team to explore its JB Lithium Project. K9 also operates the Stony Lake Gold Project in central Newfoundland. The project has been acquired from District Copper Corp. by an option agreement, whereby K9 can earn up to a 100% interest in the project (see Company release dated July 30, 2020). The Company also owns a 100% interest in the Desert Eagle Vanadium-Uranium project located in the historic Henry Mountains Mining District in SE Utah. The area has seen extensive historic vanadium and uranium mining and is close to Anfield Energy Inc’s Shootaring Canyon mill.

To ensure a safe workplace environment that protects the health and safety of employees and contractors, K9 Gold follows all federally and provincially mandated and recommended guidelines regarding COVID-19.

Chris M. Healey, P. Geo, Chief Geologist and a Director of K9 Gold Corp., is the qualified person under NI 43-101 guidelines who is responsible for the technical content of this release, and consents to its release.

Toll Free Number: (833) 434-GOLD (4653)

Kosta Tsoutsis
Director
K9 Gold Corp.
email: kosta@k9goldcorp.com

Tanana River Big DeltaEmond, A.M., and MPX Geophysics LTD, 2022, Tanana River and Big Delta airborne magnetic and radiometric survey: Alaska Division of Geological & Geophysical Surveys Geophysical Report 2022


Authors: Emond, A.M., and MPX Geophysics LTD

Publication Date: Nov 2022

Publisher: Alaska Division of Geological & Geophysical Surveys

Ordering Info: Download below for free or see our publication sales page to order a hard copy.

Quadrangle(s): Big Delta; Charley River; Circle; Eagle; Fairbanks; Kantishna River; Livengood; Mount Hayes; Tanana

Related project(s): Tanana River and Big Delta geophysics

Citation ID: 30899

Report Information

gpr2022_001.pdf (30.8 M)

Digital Geospatial Data

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Vancouver, British Columbia / October 14, 2022 Gold Lion Resources Inc. (“Gold Lion” or the “Company”) (CSE:GL) (OTC: GLIOF) (FWB: 2BC) is pleased to announce that it has completed a combined aeromagnetic, VLF-electromagnetic and radiometric survey over all 4 claim groups comprising its Nickel Plate project in northeastern Saskatchewan (the “Property”). MPX Geophysics Ltd. (“MPX”) flew the 2,528 km survey using a Piper Navajo PA31 aircraft. The survey included 2,295 km flown at 100 metre line spacing and 273 km of orthogonal tie lines at 1,000 metre spacing over the Breynat, Father Lake, Twin Lakes and Nickel Plate claim groups.

The airborne survey covers approximately 40 nickel-copper occurrences which were discovered by previous workers and are located within the 4 claim groups. These occurrences include the “Laura showing” with up to 4615 ppm nickel and 2801ppm copper detected in a 2008 grab sample which was collected by previous workers. This showing was found because of airborne surveys completed by previous workers. Gold Lion expects to generate additional drilling targets from the new airborne survey and intends to utilize the survey to plan a follow-up exploration program.

Gold Lion Nickel Plate

The four claim groups of the Nickel Plate project comprise 21 mineral claims covering 21,369 hectares located in northeastern Saskatchewan where other firms including Kobold Metals Inc. and Faith in Gravity Holdings Inc. have been exploring for nickel, cobalt, copper and other strategic metals. Gold Lion holds the option to earn a 100% right, title, and interest in and to the Property, subject to a 2% NSR royalty retained by the optionors.

Commented, Guy Bourgeois CEO of Gold Lion, “Gold Lion is very pleased with the field work and results from the program conducted by MPX on our portfolio of properties in Saskatchewan. It gives Gold Lion an excellent base to move forward and we will provide the results of the survey as soon as they become available.”

About Gold Lion Resources Inc.

Gold Lion Resources Inc. is a rapidly growing, Canada-based mineral exploration company actively involved in the exploration of battery and precious metals with operations in the Kingdom of Morocco and portfolios that include Black Lake, Cuteye and Fairview Properties located in British Columbia, Saskatchewan and Idaho, USA. For more information please visit: https://goldlionresources.com/.

VANCOUVER, BC, Oct. 19, 2021 /CNW/ – Libero Copper & Gold Corporation (TSXV: LBC) (OTCQB: LBCMF) (DE: 29H) is pleased to announce the commencement of exploration activities on its Mocoa porphyry copper-molybdenum project with airborne geophysical and LiDAR surveys followed by a large scale soil sampling program. The last exploration and drilling activities at the Mocoa project were conducted by B2Gold in 2012. Libero Copper acquired the project in 2018 and calculated a constrained inferred resource at Mocoa which contains 4.6 billion pounds of copper in 636 million tonnes grading 0.45% CuEq*.

MPX Helicopter – Mocoa, Colombia (CNW Group/Libero Copper & Gold Corporation.)

Figure 1 – Magmatic-hydrothermal breccia with bornite, magnetite, quartz and K-spar matrix. Core from Mocoa, with potassic alteration and high magnetite content (222 metre depth). (CNW Group/Libero Copper & Gold Corporation.)

Figure 2 – Transitional sericitic alteration overprinting prograde potassic alteration, low magnetite content (134 metre depth). (CNW Group/Libero Copper & Gold Corporation.)

Figure 3 – Plan map highlighting the geophysical and LiDAR survey area, as well as the three phases of the planned soil survey grid and the distribution of soil samples relative to the historical drilling. (CNW Group/Libero Copper & Gold Corporation.)

Figure 4 – Transitional sericitic alteration are overprinting the prograde potassic alteration, where D-type pyrite-bornite-hypogene chalcocite veinlets associated with white sericitic alteration are overprinting and cutting the A-Type and B-type veinlets (132 metre depth). (CNW Group/Libero Copper & Gold Corporation.)

Figure 5 – Magmatic-hydrothermal breccia with bornite, magnetite, quartz and K-spar matrix, with potassic alteration and high magnetite content (214 m depth). (CNW Group/Libero Copper & Gold Corporation.)

Figure 6 – Magmatic-hydrothermal breccia with a muscovite-pyrite rich matrix (194 metre depth). (CNW Group/Libero Copper & Gold Corporation.)

Highlights

  • MPX Geophysics has recently completed high-resolution airborne magnetic-radiometric and LiDAR surveys over an 8,100 hectare area.
  • Initial 1,450 sample soil sampling program planned for Q4 2021 to assist in identifying additional porphyry centers and enhance drilling vectors.
  • Core relogging suggests Mocoa is multi-pulse system with a high-grade copper magmatic-hydrothermal breccia associated with bornite-magnetite mineralization, overprinted by late white mica alteration associated with hypogene chalcocite-bornite mineralization. The prolific Jurassic porphyry belt which hosts Mocoa is a host to Mirador, San Carlos, Panantza, and Solaris’ Warintza.
  • Significant expansion potential as the resource is open both along strike and at depth, and the porphyry system appears to trend in the northeast direction. The current resource model for Mocoa is roughly cylindrical with a 600 metres diameter, and high-grade copper-molybdenum mineralization continues to depths in excess of 1,000 metres. Historic drilling includes 0.67% CuEq* (0.49% Cu and 0.06% Mo) over 634 metres and 0.59% CuEq* (0.44% Cu and 0.05% Mo) over 779 metres.
  • Historical soil sampling shows an untested porphyry copper target 1.3 kilometres south-east of the resource zone. This copper and molybdenum soil anomaly is greater than 1.5 kilometres in diameter and is comparable in extent and intensity to the response above the existing Mocoa resource.

“Boots on the ground exploration work at Mocoa has officially begun. The exploration team is working diligently to gain a deeper understanding of the deposit. Having advanced the geological model through detailed re-logging of existing core,  fieldwork is now required to ensure our upcoming drilling program is a success. The speed at which a collaborative environment with local communities has been established speaks volumes for the professionalism of each member of the Colombian team and their commitment to the company’s core values of respect, responsibility, and our ´Good Neighbor´ operating philosophy,” comments Ian Harris, President & CEO. “The dedicated effort of meaningfully connecting with our communities is now adding value to the project through exploration. We cannot understate our excitement to further demonstrate our commitment to maximize local benefit through actions, transparency and the incorporation of local knowledge into work plans.”

Airborne Magnetic-Radiometric Survey

The magnetic-radiometric survey covered 8,100 hectares and 809.5 kilometres of linear survey with 100 metre line spacing and 1 kilometre spaced tie lines. The survey will assist in lithological and structural mapping of weathered and covered areas. Relogging of core has identified high concentrations of magnetite in core associated with potassic alteration (Figure 1) and as well as transitional sericite alteration associated with low magnetite present (Figure 2), suggesting magnetics may help target exploration for other porphyry centres. The radiometric survey will further assist with potassic alteration mapping and delineating intrusive phases. The team plans to use the new data to characterize the geophysical signature of the already drilled resource area in order to identify similar zones for resource expansion as well as to generate new exploration targets. Porphyry copper deposits often form in clusters, especially in the Jurassic porphyry belt that hosts the Mocoa deposit.  

LiDAR Survey

The LiDAR survey will be used to generate a highly accurate, digital elevation model data for topographical mapping in diverse types of terrain and vegetation. The survey will generate high value data for structural mapping, drill and drill platform planning, and geomorphological evaluation, in addition to multiple socio-environmental studies such as forest distribution mapping, baseline control for reforestation management, and mitigation of vegetation disturbance.

Geochemistry & Soil Sampling

The soil sampling campaign will consist of three phases and 1,450 samples covering 5,912 hectares commencing with a systematic 200 metre by 200 metre grid.  Phase 1 will primarily focus on optimizing drill hole planning from the pre-planned platforms, Phase 2 on resource expansion, and Phase 3 on new target generation.  Figure 3 illustrates the planned areas for soil sampling.   

The exposure of solid outcrops of copper-molybdenum porphyries in tropical areas is very low, and therefore systematic soil sampling can be used to generate a consistent data set to support exploration. The grids will be modified to increase sampling density in areas where initial anomalies are detected. Soil sampling will be a key tool in identifying new porphyry centers that commonly cluster above underlying parental magma chambers. Targeting from the soil sampling data will focus on Cu-Mo-Au metals but also pathfinder elements such as Bi-Te-As-Sb-W-Tl-Hg-Zn that will create vectors towards porphyry centers.

Libero Copper is currently finalizing right-of-way agreements with local landowners for establishing access routes and camp facilities closer to the target area.

Core Relogging and Interpretation

Recent core relogging and investigation has developed a deeper understanding of the deposit. Transitional sericitic alteration overprints the prograde potassic alteration, where D-type pyrite-bornite-hypogene chalcocite veinlets associated with white sericitic alteration are overprinting and cutting the A-Type and B-type veinlets (Figure 4). The magmatic-hydrothermal breccia is inter-mineral in age and shows the transition from muscovite-pyrite rich matrix to high-grade copper mineralization in a silica-Kspar-bornite-magnetite matrix, see Figures 5 and 6. Structurally controlled high sulfidation alteration is interpreted to telescope through the system, extending to zones of potassic alteration.

The resource is open both along strike and at depth, and the porphyry system appears to trend in the northeast direction. Historical soil sampling shows an untested porphyry copper target 1.3 kilometres south-east of the resource zone. This copper and molybdenum soil anomaly is greater than 1.5 kilometres in diameter and is comparable in extent and intensity to the response above the existing Mocoa resource.

About the Mocoa Porphyry Copper-Molybdenum Deposit

The Mocoa deposit is located in the department of Putumayo, 10 kilometres from the town of Mocoa. It was discovered in 1973 when the United Nations (UN) and the Colombian government conducted a regional stream geochemical survey.  Between 1978 and 1983, an exploration program was carried out that consisted of geological mapping, surface sampling, ground geophysics (IP, magnetics), 31 diamond drill holes totaling 18,321 metres, and metallurgical test work cumulating in a positive pre-feasibility study.  B2Gold subsequently executed diamond drill programs in 2008 and 2012.

A constrained inferred resource at Mocoa contains 636 million tonnes of 0.45% CuEq* at 0.25% cut-off containing 4.6 billion pounds of copper and 511 million pounds of molybdenum. Mocoa is open in both directions along strike and at depth. Additional porphyry surface targets have been identified and are drill ready.

The Mocoa deposit is situated in the Eastern Cordillera of Colombia, a 30-kilometre-wide tectonic belt

underlain by volcano-sedimentary, sedimentary and intrusive rocks that range in age from Triassic-Jurassic to Quaternary, and by remnants of Paleozoic metasediments and metamorphic rocks of Precambrian age. This belt hosts several other porphyry-copper deposits, such as Mirador (438 million tonnes measured and indicated at 0.61% Cu and 235 million tonnes inferred at 0.52% Cu)1, San Carlos (600 million tonnes inferred at 0.59% Cu)2, Panantza (463 million tonnes inferred at 0.66% Cu)2, and Solaris’ Waritza, located in Ecuador.

Copper-molybdenum mineralization is associated with a dacite porphyry intrusion of the Middle Jurassic age that are emplaced into andesitic and dacitic volcanics. The Mocoa porphyry system exhibits a classical zonal pattern of hydrothermal alteration and mineralization, with a deeper central core of potassic alteration overlain by sericitization and surrounded by propylitization. Mineralization consists of disseminated chalcopyrite, molybdenite, and local bornite associated with multiphase veins, stockwork, and hydrothermal breccias. The Mocoa deposit is roughly cylindrical, with a 600 metre diameter, high-grade copper-molybdenum mineralization continues to depths in excess of 1,000 metres.

May 3, 2022 – Libero Copper & Gold Corporation (TSXV:LBC, OTCQB:LBCMF, DE:29H) is pleased to announce the company has completed the interpretation of the detailed airborne magnetic and radiometric survey data, flown at the end of 2021, and the interpretation of all surface rock sample geochemical data on the project to date, resulting in the identification of 9 new porphyry targets in the immediate area at the Mocoa porphyry copper deposit located in Putumayo, Colombia.

Highlights

  • 9 new high priority porphyry target areas identified
  • Cluster of vertical intrusive bodies (porphyries) in the immediate Mocoa deposit area with a 6 km by 2.5 km demagnetized zone (hydrothermal alteration) with local strong potassium alteration
  • Magnetic inversion data shows a series of vertical intrusive bodies (porphyries) in the Mocoa deposit area originating from the underlying eastward dipping pluton at depth
  • New large high-sulfidation gold-silver target (2.5 km by 1.5 km), 3 km southeast of the Mocoa deposit
  • Survey was flown over an 87 km2 area surrounding the existing Mocoa porphyry deposit on granted mineral concessions. Libero Copper’s recently staked land position of more than 1,000 km2 encompassing most of the Jurassic porphyry belt in southern Colombia will be systematically flown in the future

“In addition to the exceptional initial results from the maiden drill program, Libero Copper continues to make significant advancements towards demonstrating the potential to increase the endowment of mineralization associated with the Mocoa deposit and the surrounding area. The apparent clustered porphyry system recently identified as a result of the airborne magnetic and radiometric survey that was flown at the end of 2021, has also identified new opportunities around and beyond the limits of the Mocoa deposit,” comments Ian Harris, President & CEO. “The new targets identified will be systematically evaluated and receive the necessary follow-up work to be included in our ongoing field work and upcoming drill planning. This is another important advancement for Libero Copper and the Mocoa project and we look forward to continuing the evaluation and applying this systematic approach to the entire Mocoa land position.”

In late 2021, MPX Geophysics, completed magnetic, radiometric and LiDAR surveys over the Mocoa project area covering 87 km2. Daniel Core, PhD., of Fathom Geophysics, Westerville, Ohio, was contracted by Libero Copper to process and interpret the geophysical data. All available geotechnical data was provided to Fathom Geophysics to assist with the interpretation of the airborne survey data and Libero Copper processed the historic surface rock sample geochemical data to assist with the interpretation.

Processing and interpretation of the airborne geophysical data was performed by Fathom Geophysics and the main products produced include: geological interpretation with de-magnetized zone, structural interpretation, Analytic Signal magnetic (AS) map, K alteration index map, and magnetic inversion vector model with 3D radial symmetric isosurfaces (porphyry finger model).

The main outcomes and conclusion from the geophysical interpretation are as follows:

  • Large 6.5 km x 2 km east-west oriented zone of demagnetization is present and is generally centered on the Mocoa deposit. This is interpreted as possibly representing magnetic destruction associated with the hydrothermal system responsible for the Mocoa mineralizing system.
  • The magnetic inversion model with 3D radial symmetric isosurfaces demonstrates the presence of numerous sub-vertical intrusive bodies originating from the underlying pluton which have been interpreted as possible porphyry bodies.
  • A concentration of 3D radial symmetric isosurface intrusions (porphyries) are present and clustered in an area immediately south-southwest of the Mocoa porphyry Cu-Mo deposit,
  • The radiometric data shows an area of highly elevated K-alteration (K alteration index) coincident with the Mocoa deposit area which extends several kilometers to the south and west.
  • The 3D radial symmetric isosurface intrusions (porphyries) extend to various levels relative to the current surface and in several areas (to the east) the entire porphyry system may be intact (including possible epithermal environment).
  • Rock sample geochemical metallic element analysis has assisted in identifying 9 targets associated with 3D radial symmetric isosurface intrusions (porphyries) in the immediate area.

The targets identified are summarized as follows (refer to figures 1 to 9 below in relation to target descriptions):

  1. Located 1,000 meters south of the center of the Mocoa deposit and associated with a 3D radial symmetric isosurface intrusion (porphyry) with elevated surface Cu-Mo in rock sample geochemistry immediately south of Mocoa, with strong K-alteration.
  2. Located 1,500 meters southwest of the Mocoa deposit and immediately south of 2 – 3D radial symmetric isosurface intrusions (porphyry) with elevated Cu-Mo-Zn-Pb in rock samples hosted by marble, with strong K-alteration. Skarn target with underlying porphyry source.
  3. Located 2,500 meters southwest of the Mocoa deposit, associated with a buried 3D radial symmetric isosurface intrusion (porphyry) with highly elevated Cu-Mo+/-Zn in rock samples hosted by marble, with strong K-alteration. Skarn target with underlying porphyry – possibly similar to Mocoa.
  4. Located 2,500 meters south of the Mocoa deposit, associated with a 3D radial symmetric isosurface intrusion (porphyry) with elevated Zn-Pb in rock samples hosted by marble/intrusion, with strong K-alteration. Skarn target.
  5. Located 3,000 meters southeast of the Mocoa deposit, associated with a 3D radial symmetric isosurface intrusion (porphyry) with large 2,500 metre x 1,500 metre elevated Zn-Pb-Hg in rock samples, high sulfidation system. Possible intact porphyry system at depth.
  6. Located 3,000 meters east-northeast of the Mocoa deposit, associated with a 3D radial symmetric isosurface intrusion (porphyry) with locally elevated Au-Ag in rock samples.
  7. Located 3,000 meters north-northwest of the Mocoa deposit, associated with a multiple 3D radial symmetric isosurface intrusions (composite intrusion – porphyry) with locally elevated Mo-Au-Ag in rock samples.
  8. Located 2,000 meters northeast of the Mocoa deposit, associated with a 3D radial symmetric isosurface intrusion (porphyry) with locally elevated Au-Sb in rock samples.
  9. Located 2,000 meters west of the Mocoa deposit, associated with a 3D radial symmetric isosurface intrusion (porphyry) with locally elevated Cu-Mo-Zn-Pb-Bi in rock samples, with strong K alteration.

Libero Copper is currently advancing the systematic exploration on the Mocoa project and will be initiating a soil sampling program, prospecting and mapping programs across the entire district scale property.

About the Mocoa Porphyry Copper-Molybdenum Deposit

The Mocoa deposit is located in the department of Putumayo, 10 kilometres from the town of Mocoa. Libero Copper’s district scale holdings cover over 1,000 km2 encompassing most of the Jurassic porphyry belt in southern Colombia. Mocoa was discovered in 1973 when the United Nations and the Colombian government conducted a regional stream sediment geochemical survey. Between 1978 and 1983, an exploration program was carried out that consisted of geological mapping, surface sampling, ground geophysics (IP, magnetics), 31 diamond drill holes totaling 18,321 metres and metallurgical test work cumulating in a positive pre-feasibility study (the pre-feasibility study is historical in nature only and should not be relied upon as it is not NI 43-101 compliant). B2Gold subsequently executed diamond drill programs in 2008 and 2012.

A pit constrained inferred resource at Mocoa contains 636 million tonnes of 0.45% copper equivalent (0.33% Cu and 0.036% Mo)1 generated using $3/lb Cu and $10/lb Mo, containing 4.6 billion pounds of copper and 511 million pounds of molybdenum. The Mocoa deposit appears to be open in both directions along strike and at depth. Current work on the property has identified additional porphyry targets including the possible expansion of known mineralization which will receive additional follow-up drilling in 2022. The Mocoa deposit is situated in the Eastern Cordillera of Colombia, a 30-kilometre-wide tectonic belt underlain by volcano-sedimentary, sedimentary and intrusive rocks that range in age from Triassic-Jurassic to Quaternary and by remnants of Paleozoic metasediments and metamorphic rocks of Precambrian age.

This belt hosts several other porphyry-copper deposits in Ecuador, such as Mirador (438 million tonnes measured and indicated at 0.61% Cu and 235 million tonnes inferred at 0.52% Cu)3, San Carlos (600 million tonnes inferred at 0.59% Cu)3, Panantza (463 million tonnes inferred at 0.66% Cu)4 and Solaris’ Waritza, located in Ecuador.

Copper-molybdenum mineralization is associated with dacite porphyry intrusions of the Middle Jurassic age that are emplaced into andesitic and dacitic volcanics. The Mocoa porphyry system exhibits a classical zonal pattern of hydrothermal alteration and mineralization, with a deeper central core of potassic alteration overlain by sericitization and surrounded by propylitization. Mineralization consists of disseminated chalcopyrite, molybdenite and local bornite and chalcocite associated with multiphase veins, stockwork and hydrothermal breccias. The Mocoa deposit is roughly cylindrical, with a 600 metre diameter. Highgrade copper-molybdenum mineralization continues to depths in excess of 1,000 metres.

2 Technical Report “Mocoa Copper-Molybdenum Project” dated effective November 1, 2021

3 Technical Report: “Mirador Copper-Gold Project 30,000 TPD Feasibility Study” dated effective April 3, 2008

4 Technical Report: “Preliminary Assessment Report Panantza & San Carlos Copper Project” dated effective October 30, 2007

Qualified Person

Information in this news release relating to the exploration results is based on data reviewed by Matthew C. Wunder, B.Sc. P.Geo., the Vice President Exploration for Libero Copper. Mr. Wunder is a registered Professional Geologist and has in excess of 35 years’ experience in mineral exploration and is a Qualified Person as defined under National Instrument 43-101.

About Libero Copper & Gold

Libero Copper is unlocking the value of a collection of porphyry copper deposits throughout the Americas in prolific and stable jurisdictions. The portfolio includes the Mocoa deposit in Putumayo, Colombia; Esperanza in San Juan, Argentina; and Big Red and Big Bulk in the Golden Triangle, BC, Canada. These assets are being advanced by a highly disciplined and seasoned professional team with successful track records of discovery, resource development, and permitting in the Americas.

BEDFORD, NS / ACCESSWIRE / February 23, 2022 / Silver Spruce Resources Inc. (the “Company”) (TSXV:SSE)(FRA:S6Q1) is pleased to announce that MPX Geophysics Ltd. (“MPX”) has completed its airborne survey of the Mystery Au project (“Mystery” or the “Property”).

“Given the regional exploration success focused along major structure in the Exploits Subzone, we acquire new high-resolution geophysical data, as per Figure 1, showing significant branching and intersecting structural linears, key to district mineralization targets, in our first gold exploration at Mystery,” said Greg Davison, Vice-President Exploration and Director of Silver Spruce.

Figure 1. MPX Geophysics airborne Preliminary Total Magnetic Intensity (TMI) Map of the Mystery Claims (UTM WGS 84).

Mr. Davison added, “The MPX airborne survey began as scheduled on November 10,, 2021 and required only six (6) flight survey days to complete data collection over the entire Property. The Company thanks the MPX team for their diligence, attention to operational safety and rapid transfer of preliminary data throughout the term of the survey. Working around the poor winter weather flying conditions and a scheduled window for aircraft maintenance, the survey was completed by MPX on January 25, 2022. We expect the final report with maps shortly and will provide the geological interpretation in due course.”

MPX Geophysical Survey

The Piper Aztek aircraft flew daily, weather dependent, from the airstrip at Deer Lake located 130 kilometres WNW of the three properties (Figure 2). The airborne survey comprised three grids totaling 1,691 line-km along E-W (Marilyn and Till) and N-S (Mystery) flight lines with 100 metre nominal line spacing, and 180 line-km of orthogonal tie lines with 1,000 metre nominal line spacing (Figures 3, 4 and 5). The detailed airborne survey parameters were described previously (see Press Release of November 4, 2021).

MPX crews conducted all field activities in Newfoundland and Labrador (NL) under strictly adhered to corporate and client COVID safety protocols.

Junior Mining NetworkFigure 2. Map of the Mystery project claims, named from north to south, Marilyn, Till and Mystery, located only 10-35km south of Grand Falls, Newfoundland.

Exploration Plan

The Company has staged plans to complete, with receipt of NL Mineral Lands Division project approvals, regional till sampling for gold grain analysis and soil geochemistry and airborne geophysics. The analytical program will include QA/QC program development. ArcGIS geological and geophysical data compilation is in progress, the Company plans to undertake a detailed geological mapping, prospecting and sampling program, grid soil sampling and as warranted by the Phase 1 results planning for our first exploration drill campaign.

Junior Mining NetworkFigure 3. Mystery Claims showing location of MPX Geophysics airborne survey (UTM WGS 84) using 100m flight lines and 1000m tie lines. Base map – World Imagery.

Project Background

The Company can acquire 100% of three early-stage gold exploration properties, Mystery, Till and Marilyn located near Grand Falls, Newfoundland and Labrador, Canada, 20-25 kilometres west of New Found Gold Corp.’s Queensway project and 15-35 kilometres south of Sokoman Minerals Corp.’s Moosehead gold project (see Press Release of September 14, 2021).

The 8,750-hectare project is located within the Exploits Subzone, an extensive area of mineral exploration activity and discoveries over the past two years. The Properties are well situated in terms of exploration logistics, located close to each other and 10-45 kilometres south by Bay d’Espoir Highway from Bishop’s Falls, Newfoundland. The Properties are located <70 kilometres from the Gander International Airport and are easily accessible from major paved roads and local logging and bush roads and trails.

The region is structurally complex and located, in large part, between several major crustal lineaments. Numerous major to lesser sub-parallel features merge and bifurcate along strike and are transected by NW and EW-trending faults. These deep-seated structures, which juxtapose geological terranes over hundreds of kilometres, are key to the location and formation of orogenic gold deposits containing millions of ounces of gold as reported by junior companies in the district.

Junior Mining NetworkFigure 4. Till Claims showing location of MPX Geophysics airborne survey (UTM WGS 84).

Junior Mining NetworkFigure 5. Marilyn Claims showing location of MPX Geophysics airborne survey (UTM WGS 84).

The Properties have seen little structured exploration to date. A selection of historical assays was reported for precious and base metals and pathfinder elements from 123 samples collected from Mystery and Marilyn (see Press Release of September 14, 2021). Eighteen samples reported Au >0.5 g/t (max. 12.5 g/t Au). Cu values report up to 9.85% with minor Ag, Pb and Zn. Arsenic is highly anomalous, strongly associated with elevated Au values and displayed mainly as minor to abundant arsenopyrite. Silver Spruce recently verified sample locations for the historical assays and collected new rock samples. We verified the historical grades and the Au-As±Sb±Bi geochemical association. Gold assays for the seventeen due diligence samples ranged up to 8.0 g/t Au and >1% As consistent with historical samples to 12.5 g/t Au and anomalous A (see Press Release of November 23, 2021).

Multiple surface occurrences are reported of agate chalcedony to colloform and crystalline silica veining and multi-phase breccias, carbonate replacement by quartz, and open-space filling quartz and calcite, all textures indicative of the upper zones of epithermal systems and structural conduits in epizonal to mesothermal orogenic systems and are accompanied by Au and arsenopyrite, stibnite and lesser Cu-Zn-Pb-Ag mineralization.

All metal values disclosed herein for the Mystery and Marilyn properties by past operators, including the Vendors, and by Silver Spruce are reported from grab samples which may not be representative of the metal grades, or the metal grade distribution, and those from previous exploration efforts must be considered as historical in nature.

Qualified Person

Greg Davison, PGeo, Silver Spruce VP Exploration and Director, is the Company’s internal Qualified Person for the Mystery, Marilyn and Till Projects and is responsible for approval of the technical content of this press release within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”), under TSX guidelines.

About MPX Geophysics Ltd.

MPX Geophysics is an international leader in airborne and remote sensing for the mining, O&G, civil and environmental engineering sectors. MPX operational and HSE procedures are industry-leading. MPX has undertaken more than 500,000 line-km of airborne geophysical surveys worldwide operating from both helicopter and fixed-wing platforms, including numerous projects in northern Canada, in remote and difficult locations. Survey technologies include magnetics, radiometrics, electromagnetics, gravity, MT, LiDAR, data processing and interpretation. The MPX Group of Companies is headquartered in Toronto, Ontario, Canada.

About Silver Spruce Resources Inc.

Silver Spruce Resources Inc. is a Canadian junior exploration company which has signed Definitive Agreements to acquire 100% of the Melchett Lake Zn-Au-Ag project in northern Ontario, and with Colibri Resource Corp. in Sonora, Mexico, to acquire 50% interest in Yaque Minerales S.A de C.V. holding the El Mezquite Au project, a drill-ready precious metal project, and up to 50% interest in each of Colibri’s early stage Jackie Au and Diamante Au-Ag projects, with the three properties located from 5 kilometres to 15 kilometres northwest from Minera Alamos’s Nicho deposit, respectively. The Company is acquiring 100% interest in the drill-ready and fully permitted Pino de Plata Ag project, located 15 kilometres west of Coeur Mining’s Palmarejo Mine, in western Chihuahua, Mexico. Silver Spruce recently signed a Definitive Agreement to acquire 100% interest in three exploration properties in the Exploits Subzone Gold Belt, located 15-40 kilometres from recent discoveries by Sokoman Minerals Corp. and New Found Gold Corp., central Newfoundland and Labrador. Silver Spruce Resources Inc. continues to investigate opportunities that Management has identified or that are presented to the Company for consideration.

2021 | State of Alaska | Department of Natural Resources | Division of Geological & Geophysical Surveys


ABSTRACT

The Eagle airborne magnetic and radiometric geophysical survey covers parts of the Charley River, Eagle, and Tanacross quadrangles near Eagle, Alaska (fig. 1). Magnetic and radiometric data were collected with a fixed-wing aircraft May 24 to June 27, 2021 by MPX Geophysics LTD. A total of 26,926 line kilometres were collected covering 9,731 square kilometres. The magnetometer was mounted to a rear-facing fixed boom (“tail stinger”). The radiometric crystals were located in the cabin of the aircraft. The Eagle survey was flown with a line spacing of 400 meters (m) and a mean ground clearance of 330 m.

PURPOSE

The data from the Eagle airborne magnetic and radiometric geophysical survey will be used for improving the understanding of the geology and mineral potential, promoting resource exploration, and be a part of the continuous regional magnetic data coverage of the Yukon Tanana Uplands.

SURVEY OVERVIEW DESCRIPTION

This document provides an overview of the survey and includes text and figures of select primary and derivative products of this survey. A table of digital data packages available for download is provided to assist users in data selection. For reference, a catalog of the available maps is presented in reduced resolution. Please consult the metadata, project report, and digital data packages for more information and data.

ACKNOWLEDGMENTS

This work was supported by the Bureau of Land Management grant L18AC00019 and the U.S. Geological Survey’s Earth MRI program grant G20AC00160. The views and conclusions contained in this document are those of the authors and should not be interpreted as necessarily representing the official policies, either expressed or implied, of the U.S. Government.

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